With 40 per cent of defence procurement still coming from abroad, government Friday said it is working to boost indigenous manufacturing capacity to reduce dependence on foreign supplies.
Stating that Gujarat was keen to promote defence industry, Chief Minister Narendra Modi on Thursday invited private companies to set up their units in the state.
The IAF warned the defence industry against falling prey to unethical practices, saying it would be "unforgiving" towards such companies.
Government has raised the capital
expenditure limit for the defence forces by Rs 13,434.82 crore
in the next financial year, increasing allocation for
aircraft, naval ships and special projects.
The world arms market was a highly competitive market, dominated by a small number of exporters.
To expedite indigenisation of
the defence industry, government agencies should ensure smooth
Transfer of Technology (ToT) through increased participation
of private sector in the country, CIS) Vice Admiral Shekhar Sinha said.
India is in the process of signing Defence deals worth nearly USD 42 billion, an industry study has concluded.
Defence Minister AK Antony on Thursday ruled out for now any change in the defence production policy.
India has been "too late" in acquiring modern artillery and needs to accelerate its efforts to modernise its firepower, Army Chief Gen. VK Singh, said on Monday.
Day in Pics: 31st January
Showbiz World - January 31, 2015